Category Archives: Chapter 13
Debt may negatively impact health and lifestyle
Many people in Florida carry debt loads that they cannot easily manage. Individuals often go into debt with no plan about how they’ll get out and with little feeling of urgency about paying the debt off. There are tremendous benefits, though, to paying down personal debts sooner, and serious consequences for leaving them until… Read More »
Consumers debt manageable for now
Declining mortgage delinquency rates may be a positive sign for consumers in Florida and throughout the country. The rate fell from 2.28 percent in the fourth quarter of 2016 to 1.83 percent in the final quarter of 2017. It is believed that this rate will continue to fall to 1.65 percent in 2018 according… Read More »
401(k) hardship withdrawal as a possible debt solution
It’s not unusual for individuals and families in Florida and throughout the United States to be only one paycheck away from missing important payments to creditors. Unexpected situations, such as the loss of a job, a reduction in pay or a large expense, can exact a domino effect that can make it can it… Read More »
District court overrules bankruptcy court decision
A bankruptcy ruling may have implications for Florida residents who file for bankruptcy. In Vermont, a district court ruled that a bankruptcy court in the same state did not have the power to impose sanctions. Mortgage company PHH Mortgage Corp. had been ordered to pay a total of $375,000 to the Legal Services Law… Read More »
Why debt may be charged off
If a Florida resident doesn’t make credit card or other debt payments in a significant amount of time, it may be marked as charged-off on a credit report. This means that a creditor has decided to write it off as a loss, and the creditor may sell it to a debt buyer or some… Read More »
Debt relief options for people with bad credit
Reducing debt quickly could be challenging when a person has a low credit score. Although people with good credit may be able to use consolidation loans or new low-interest credit cards to lower their monthly payments, these options might not be available to Floridians with credit scores below 600. Fortunately, there are still some… Read More »
Chapter 13 bankruptcy can help save a home
People in Florida who are struggling with serious debts may consider Chapter 13 bankruptcy as a way to obtain much-needed debt relief and protection from the loss of property. Chapter 13 bankruptcy allows people to create a debt repayment plan that stretches over three to five years, allowing people to pay off their debts… Read More »
How bankruptcy affects a person’s credit
Medical debt is the top reason people apply for bankruptcy although there are a number of reasons a person may fall into debt. Some Florida consumers might consider filing for bankruptcy but might be concerned about how it will affect their credit record and how long it will remain on that record. Depending on… Read More »
Medical bills contribute to rising credit card debt
Some Florida residentsmight be struggling with credit card debt because of medical expenses. Medical debt is the number one reason that people file for bankruptcy, and it is not a cost that is easily controlled. Unlike downsizing a residence or cutting back on spending, if a person needs a medical procedure, there is usually… Read More »
Data says homeowners pay more credit card interest than renters
Florida readers that own homes or are considering homeownership may be interested in data released by NerdWallet that indicates homeowners are more likely than renters to incur higher credit card interest charges. According to the data, renters rack up $537 annually in credit card interest charges while the average homeowner incurs $1,001 in interest… Read More »